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This is a carousel. Use Next and Previous buttons to navigate 9 MADRID (AP) — An explosion hit a biodiesel production plant in northern Spain on Thursday, killing two people and forcing the evacuation of 250 children who had been on a field trip nearby, police said Thursday. Police video of the explosion showed flames engulfing the plant in the northern region of La Rioja, sending large plumes of black smoke into the sky. The two people killed were both workers at the plant, said police. Emergency workers scrambled to evacuate the area, including a nearby theme park. “A few metres away from the plant was a field trip of 250 children who had to be transferred out of danger to another area,” police said in a statement. None of the children were reportedly harmed. Officials are investigating the reason for the explosion. The municipality of Calahorra, where the plant is located, said on Twitter it had … [Read more...] about Explosion at Spanish plant leaves 2 dead; 250 kids evacuated

WASHINGTON (AP) — Average long-term U.S. mortgage rates fell this week for the second week in a row, though interest rates on the key 30-year home loan remain at decade-high levels. Economic uncertainty and weakened homebuyer demand continue to loom over mortgage rates. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate declined to 5.1% from 5.25% last week. By contrast, the average rate stood at 2.95% a year ago. The average rate on 15-year, fixed-rate mortgages, popular among those refinancing their homes, dipped to 4.31% from 4.43% last week. Earlier this month, the Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark interest rate by a half-percentage point and signaling more big rate hikes to come. The Fed’s move, its most aggressive since 2000, means higher costs for mortgages as well as credit cards, auto loans and other borrowing for individuals and businesses. Higher borrowing rates appear to be slowing … [Read more...] about Average long-term mortgage rates fall; 30-year loan at 5.1%

NEW YORK (AP) — Airline stocks rallied Thursday after Southwest Airlines and JetBlue Airways said revenue from summer travel will be stronger than previously expected as travel bounces back after two years of the pandemic. The comments, which the airlines made in regulatory filings, point to their ability to charge higher fares and still fill their planes because of strong demand from travelers. Southwest said second-quarter revenue will rise by between 12% and 15% compared with 2019 because of accelerating bookings for summer travel. The Dallas-based airline previously predicted a gain of 8% to 12%. Southwest expects to hit that revenue target even though its passenger-carrying capacity will be about 7% lower than before the pandemic. JetBlue said it continues to expect record revenue this summer, with second-quarter sales rising 16% or more -- matching or beating the top of its previously forecast range for the period. Helane Becker, an analyst with banking firm Cowen, … [Read more...] about Southwest, JetBlue boost forecasts on strong travel demand

This is a carousel. Use Next and Previous buttons to navigate 8 BAGHDAD (AP) — Iraqi lawmakers on Thursday passed a bill criminalizing normalization of ties and any relations, including business ties, with Israel. The legislation says that violation of the law is punishable with the death sentence or life imprisonment. The law was approved with 275 lawmakers voting in favor of it in the 329-seat assembly. A parliament statement said the legislation is “a true reflection of the will of the people.” Influential Shiite cleric Muqtada al-Sadr, whose party won the largest number of seats in Iraq’s parliamentary elections last year, called for Iraqis to take to the streets to celebrate this “”great achievement." Hundreds later gathered in central Baghdad, chanting anti-Israel slogans. It was unclear how the law will be implemented as Iraq has not recognized Israel since the country's formation in 1948; the two … [Read more...] about Iraqi lawmakers pass bill criminalizing any ties with Israel